Japan’s banking industry is in tur- See STADIUM, In April of this year, the Tigers announced a new deal with Sumitomo Bank of Japan. That slowed but didn’t stop work on the project. But the Comerica loan fell through, with no public explanation. Armed only with a “comfort letter” about the bank deal, city and state officials released their funds and started preparing the stadium site. In February 1997, the Tigers announced that a consortium led by Comerica Bank had agreed to loan the money. The Tigers signed an agreement to pay the $145 million in actual con struction costs for the stadium. The public money was earmarked to acquire and clear land and build infrastructure. John Engler from a state small business fund without a legislative vote. The State of Michigan chipped in $55 million - diverted by Gov. The City of Detroit pledged $40 million - an expense approved by voters in a March 1996 election. “’’Promises are nice, but where is the Tigers’ share of the money?” The stadium is supposed to be a pri vate-public partnership. Squeeze play? No stadium money from “Show us the money,” Mahaffey said. And with a loan by a Japanese bank to the Tigers still not completed, she’s wor ried that the public is getting stiffed. City Councilwoman Maryann Mahaffey is not getting answers to her questions about who’s really going to pay for the stadium. Untold millions of public dollars have been spent preparing for the building of Detroit’s new baseball stadium, but the Tigers still have not anted up a dime. The foundation footings have been set in place. By Michael Betzold Journal Staff Writer B uildings have been razed.
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36 75 CENTS CONTINUING THE STRUGGLE FOR JUSTICE AND CONTRACTS ©TDSJ Journal photo by GEORGE WALDMAN The struggle of newspaper workers took a nautical turn on Wednesday when four boats of locked-out workers and supporters went to the Detroit River in a demonstration aimed at Free Press Publisher Heath Meriwether.
THE DETROIT HONeysw ItrVCi \3vt V I] Ranted Ht e j NO News or ifrct Prci^sr* Wanted Here! VOL.
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